If you’ve done any research about solar energy systems, you’ve probably heard about net metering. It’s one of the most enticing incentives for going solar, allowing homeowners to save on their utility bills and shorten the payback period of their investment. But what exactly is it, and how does it work?
How Does Net Metering Work?
To put it simply, net metering, also known as net energy metering (NEM), is a utility program whereby your electric company buys excess energy that your solar system produces. A rooftop solar system often generates more electricity than you’ll need throughout the day to power your home. So, when your solar energy system generates excess electricity, the surplus of kilowatt hours (kWh) is measured and then is directed back to the power grid and purchased by your electric company.
What Are the Benefits of Net Metering?
- Reduce or Eliminate Your Electricity Bill: A high-quality solar system can last for decades. Over the course of its lifetime, you can save tens of thousands of dollars on monthly electric bills. With an adequately sized solar system, you can even eliminate your utility bill entirely.
- Shorten the Payback Period: Florida provides full retail net metering, which means you’ll be able to dramatically shorten your solar system’s payback period.
- Take Pressure off the Grid: Because solar homeowners generate their own electricity, they take pressure off of the power grid. And, when they sell the excess power back to the electric company, this electricity can then be used by other non-solar homeowners, taking even more pressure off of power plants.
Go Solar Today
If you’re a Florida homeowner, now is the time to invest in a solar system and start enjoying the benefits of net metering. As new solar energy laws are passed, the perks of going solar may begin to diminish. So, if you’re looking to maximize the benefits of going solar, now is the best time to get started.
At Lake Mary Solar, our licensed and qualified solar contractors can help you get the most savings out of your solar panel system. We have a strong understanding of the solar incentives available to homeowners in Central Florida and can help you maximize the value of your solar system.
Please feel free to contact us with any questions about net metering or our products and services.
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